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| Raksha Mantri Shri Rajnath Singh approves Rs 498.8 crore budgetary support for Defence innovation through iDEX - DIO |
New Delhi (Lisbon Times):- The Raksha Mantri Shri Rajnath Singh has approved the
budgetary support of Rs 498.8 crore to Innovations for Defence Excellence
(iDEX) - Defence Innovation Organisation (DIO) for the next five years. The
budgetary support will provide a big boost to the ‘Aatmanirbhar Bharat Abhiyan’
of Prime Minister Shri Narendra Modi as iDEX–DIO has the primary objective
of self-reliance and indigenization in defense & aerospace a sector of the country.
The creation of the iDEX framework and establishment of
the DIO by the Department of Defence Production (DDP) is aimed at creating an
ecosystem to foster innovation and technology development in defense and
aerospace by engaging Industries including MSMEs, start-ups, individual
innovators, R&D institutes & academia and provide them grants/funding
and other support to carry out R&D development which has good potential for
future adoption for Indian defense and aerospace needs.
The scheme, with budgetary support of Rs 498.8 crore for
the next five years is aimed at providing financial support to nearly 300
start-ups/MSMEs/individual innovators and 20 partner incubators under the DIO
framework. It will support increased awareness in the Indian innovation
ecosystem about defense needs and, conversely, in the Indian Defence establishment
about the potential of the Indian innovation eco-system to deliver innovatively
solutions to meet their needs.
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The DIO, with its team, will enable the creation of
channels for innovators to engage and interact with the Indian Defence
production industry. The long-term effect to be realized by the group is the
establishment of a culture, where enlisting the effort of innovators by the Indian military is commonplace and frequent.
The scheme aims to facilitate the rapid development of new,
indigenized and innovative technologies for the Indian defense and aerospace
sector to meet their needs in shorter timelines; create a culture of engagement
with innovative start-ups to encourage co-creation for defense and aerospace;
empower a culture of technology co-creation and co-innovation within the
defense and aerospace sector and boost innovation among the start-ups and
encourage them to be a part of the ecosystem.
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